Eurotex Industries and Exports Limited (EUROTEXIND)
₹14.14 +1.65% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Eurotex Industries' revenue was ₹0.0 Cr (-53.8% year on year, +85.0% on the previous quarter), and net profit ₹-1.3 Cr (a bigger loss than a year earlier); the operating margin was -6237.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | -53.8% | +85.0% |
| Operating profit | ₹-1.2 | loss widened | loss narrowed |
| Net profit | ₹-1.3 | loss widened | loss widened |
| EPS (₹) | -1.50 | loss widened | loss widened |
| Operating margin | -6237.8% | — | — |
EUROTEXIND exchange data
NSE end-of-day data for
It closed at its lower price band (circuit) on 16 Oct, one of 11 band closes in about the last 20 sessions.
Delivery in the last 5 sessions: 71.4% · 72.4% · 100.0% · 50.5% · 93.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Eurotex Industries and Exports Limited has issued a Postal Ballot notice seeking shareholder approval via a Special Resolution to sell, lease, or dispose of the whole or substantially the whole of its undertakings up to a total amount of ₹39 Cr. This includes ₹25 Cr previously approved by shareholders. Relative to the company's current market cap of ~₹14 Cr and debt of ₹36 Cr, an asset sale limit of ₹39 Cr is substantial and intended to facilitate liability settlements. The remote e-voting period runs from October 5, 2026, to November 3, 2026, with results expected by November 5, 2026.
- Proposed disposal limit raised to up to ₹39 Cr (including ₹25 Cr previously approved)
- Total proposed disposal value of ₹39 Cr exceeds the company's market cap of ₹14 Cr and total debt of ₹36 Cr
- E-voting starts on 05th October, 2026 and concludes on 03rd November, 2026
- Cut-off date for eligibility to vote set as 29th September, 2026
- Results of the postal ballot to be declared on or before 05th November, 2026
Eurotex Industries held its 40th Annual General Meeting on September 18, 2026, with 35 members in attendance. Key approvals passed by requisite majority included the variation and alteration of redemption terms for 50,00,000 6% Non-Cumulative Non-Convertible Redeemable Preference Shares aggregating to ₹5,00,00,000. Additionally, shareholders approved the adoption of FY26 financial statements and regularized the appointment of Mr. Sanjay Shrinarayan Baldua as Non-Executive Non-Independent Director.
- Variation of redemption terms approved for 50,00,000 preference shares aggregating to ₹5,00,00,000
- 40th Annual General Meeting was attended by 35 members via video conferencing
- Adoption of audited FY26 financial statements and director retirement/re-appointment approved
- Regularisation of Mr. Sanjay Shrinarayan Baldua as Non-Executive Non-Independent Director passed
Eurotex Industries and Exports Limited conducted its 40th Annual General Meeting on September 18, 2026. Key special resolutions passed included altering the redemption terms of 50,00,000 6% Non-Cumulative Non-Convertible Redeemable Preference Shares aggregating to ₹5.00 crore. The altered preference capital of ₹5 crore is substantial relative to the company's market cap of ₹10 crore and negative net worth of -₹27 crore. Shareholders also approved the regularisation of Mr. Sanjay Shrinarayan Baldua as Non-Executive Non-Independent Director.
- Altered redemption terms for 50,00,000 6% preference shares of ₹10 each, totaling ₹5,00,00,000
- Regularised the appointment of Mr. Sanjay Shrinarayan Baldua (DIN: 06924268) as Non-Executive Non-Independent Director
- Adoption of FY26 financial statements and re-appointment of retiring director Shri Rajiv Siotia
- A total of 35 members attended the AGM via Video Conferencing
Eurotex Industries and Exports Limited has issued a physical dispatch to shareholders whose email addresses are not registered, communicating access links to the Annual Report for FY 2025-26. The intimation complies with Regulation 36(1)(b) of SEBI Listing Regulations. The company's 40th Annual General Meeting (AGM) is scheduled to be held virtually on September 18, 2026, at 09:30 AM IST.
- 40th Annual General Meeting (AGM) scheduled for Friday, 18th September, 2026 at 09:30 a.m. via VC/OAVM
- Physical notice dispatched under Regulation 36(1)(b) of SEBI LODR to shareholders without registered email IDs
- Weblink and access path for the FY 2025-26 Annual Report shared for member access
Eurotex Industries and Exports Limited has announced the closure of its Register of Members and Share Transfer Books from September 11, 2026, to September 18, 2026 (both days inclusive). This closure is for the purpose of the 40th Annual General Meeting (AGM) scheduled for September 18, 2026, at 09:30 AM via video conferencing. The cut-off date for determining shareholder eligibility for remote e-voting has been fixed as September 11, 2026.
- 40th Annual General Meeting scheduled for September 18, 2026, at 09:30 AM
- Book closure period set from September 11, 2026, to September 18, 2026
- Cut-off date for remote e-voting fixed as September 11, 2026
Eurotex Industries and Exports Limited has published its 40th Annual Report for FY 2025-26 along with the AGM notice scheduled for September 18, 2026. Key special business includes seeking shareholder approval to extend the redemption timeline of 50,00,000 (6%) Non-Convertible Redeemable Preference Shares of ₹10 each (totaling ₹5.00 crore) up to December 8, 2036. The company reported minimal revenue (₹0.11 crore in FY26) with ongoing plant closure at Kolhapur, while its real estate development project is slated for completion before September 30, 2026.
- 40th AGM scheduled for Friday, September 18, 2026 via video conferencing.
- Proposed alteration of redemption terms for 50,00,000 (6%) preference shares aggregating to ₹5.00 crore, extending redemption up to December 8, 2036.
- Real estate joint development project on 3,810 sq. mtr. land is targeted for completion before September 30, 2026.
- Manufacturing plants at Kolhapur remain closed since March 2019 due to labour disputes, with a writ petition pending in the Bombay High Court.
Eurotex Industries and Exports Limited has issued the notice for its 40th Annual General Meeting scheduled for September 18, 2026. A key special resolution involves altering redemption terms for 50,00,000 6% Non-Cumulative Non-Convertible Redeemable Preference Shares of Rs 10 each (aggregating Rs 5.00 crore), extending their redemption timeline up to December 8, 2036 (20 years from issuance). The meeting will also consider the appointment of Mr. Sanjay Shrinarayan Baldua as a Non-Executive Non-Independent Director and the re-appointment of Mr. Rajiv Patodia.
- 40th AGM to be conducted via Video Conferencing on September 18, 2026 at 09:30 AM IST.
- Proposes extending the redemption period of 50,00,000 6% Preference Shares (Rs 5.00 crore face value) up to December 8, 2036.
- Remote e-voting period runs from September 15, 2026 (9:00 AM) to September 17, 2026 (5:00 PM).
- Share transfer books and register of members will remain closed from September 11, 2026 to September 18, 2026.
Eurotex Industries and Exports Limited has appointed Ms. Priya Amit Manglani as Company Secretary and Compliance Officer, effective August 7, 2026. The appointment was approved during a board meeting held on the same day. This administrative change comes at a time when the company is facing severe financial distress, reporting a negative net worth of -27 Cr and TTM revenue of 0 Cr. The company is currently focused on a turnaround strategy involving the liquidation of assets in Kolhapur to settle its 36 Cr debt.
- Appointment of Ms. Priya Amit Manglani effective from August 7, 2026
- Board meeting conducted for 40 minutes from 3:00 p.m. to 3:40 p.m.
- Company reports a negative net worth of -27 Cr as per latest financial context
- Total debt stands at 36 Cr against a market capitalization of only 12 Cr
- TTM revenue is currently 0 Cr, reflecting suspended or minimal operations
Eurotex Industries and Exports Limited has appointed Ms. Priya Amit Manglani as Company Secretary and Compliance Officer effective August 7, 2026. This is a routine statutory appointment to ensure compliance with SEBI and Companies Act requirements. The company is currently in a precarious financial position with a negative net worth of ‑Rs 27 Cr and TTM revenue of nearly zero. This management change occurs as the company focuses on a turnaround strategy involving the liquidation of non-core assets in Kolhapur to settle its Rs 36 Cr debt.
- Appointment of Ms. Priya Amit Manglani effective from August 7, 2026
- Board meeting conducted for 40 minutes from 3:00 p.m. to 3:40 p.m.
- Company reports a negative net worth of Rs -27 Cr as per latest financial context
- Total debt stands at Rs 36 Cr against a market capitalization of only Rs 12 Cr
- TTM revenue is currently Rs 0 Cr, reflecting stalled operations
Eurotex Industries reported a net loss of Rs 1.31 Cr for Q1 FY27, widening from a Rs 0.87 Cr loss in the same quarter last year. The company faces a critical legal setback as the Supreme Court ruled against it on July 24, 2026, regarding disputed electricity charges and duties totaling Rs 19.86 Cr. Operations at its Kolhapur manufacturing plants remain closed since 2019, and the company's net worth is completely eroded at Rs -27 Cr. Management is currently relying on promoter loans and potential real estate development of its Kolhapur land to maintain 'going concern' status.
- Net loss for the quarter ended June 2026 stood at Rs 1.31 Cr vs Rs 0.87 Cr in June 2025.
- Supreme Court ruled against the company for electricity charges of Rs 16.80 Cr and duty of Rs 3.05 Cr.
- Revenue from operations remains negligible at Rs 1.85 Lakhs for the quarter.
- Manufacturing plants at Kolhapur have been at a halt since March 25, 2019, with formal closure in 2022.
- Total liabilities stand at Rs 59.13 Cr against total assets of Rs 31.10 Cr as of June 30, 2026.
Eurotex Industries faces an existential threat following a demand notice for Rs 140.45 Cr from MSEDCL for outstanding electricity bills and interest. This demand follows the Supreme Court's dismissal of the company's appeal and a rejection by the Consumer Grievance Redressal Forum. The total demand is approximately 13 times the company's current market capitalization of Rs 11 Cr and significantly exceeds its negative net worth of Rs -27 Cr. MSEDCL has issued a 15-day ultimatum to pay the amount, failing which the company's only active power supply will be disconnected.
- Total demand of Rs 140.45 Cr issued by MSEDCL across three high-voltage connections
- Interest component alone accounts for Rs 105.27 Cr, which is nearly 10x the company's market cap
- Supreme Court dismissed the company's appeal for clarification on August 3, 2026
- 15-day deadline set by MSEDCL before disconnection of the active connection (Consumer No. 251019402668)
- Company is currently in the process of applying to the Ombudsman to contest the CGRF dismissal
Mr. Mohd Bilal has resigned as the Company Secretary and Compliance Officer of Eurotex Industries and Exports Limited effective July 20, 2026, citing personal reasons. This administrative change occurs as the company faces severe financial distress, with a negative net worth of Rs -27 Cr and TTM revenue of Rs 0 Cr. The board will meet in due course to accept the resignation and initiate the search for a successor. Maintaining a compliance officer is critical for this micro-cap company (Rs 11 Cr market cap) to navigate its ongoing debt restructuring and asset liquidation process.
- Resignation of Mr. Mohd Bilal as Company Secretary and Compliance Officer effective July 20, 2026
- Company reports a negative net worth of Rs -27 Cr against a market cap of Rs 11 Cr
- TTM revenue stands at Rs 0 Cr with a TTM PAT of Rs -1 Cr
- Total debt of Rs 36 Cr remains a significant burden on the company's balance sheet
Eurotex Industries has filed a nil statement of deviation for the quarter ended June 30, 2026, as it raised no funds through public or rights issues. However, an accompanying auditor's certificate reveals a deeply distressed financial position with a negative net worth of ₹2,764.13 lacs as of March 31, 2026. Although the net worth improved slightly from negative ₹2,946.73 lacs in 2025, the company's accumulated losses (Reserves & Surplus) stand at a staggering negative ₹3,638.15 lacs. The paid-up equity capital remains stagnant at ₹874.02 lacs, indicating severe capital erosion.
- Net worth remains negative at ₹2,764.13 lacs as of March 31, 2026, despite a marginal year-on-year improvement.
- Accumulated losses in Reserves & Surplus reached negative ₹3,638.15 lacs by the end of FY26.
- Paid-up equity capital has remained unchanged at ₹874.02 lacs for at least three consecutive financial years.
- The company reported no material deviation of funds for the quarter ended June 30, 2026, as no fresh capital was raised.
- Net worth was also negative in previous years: ₹2,946.73 lacs in 2025 and ₹2,716.45 lacs in 2024.
Eurotex Industries has filed a non-applicability certificate for SEBI Corporate Governance requirements for the quarter ended June 30, 2026. The company is exempt as its paid-up capital of ₹8.74 crore is below the ₹10 crore threshold, and its net worth is negative at ₹-27.64 crore, well below the ₹25 crore requirement. This filing confirms the company's continued financial distress, with a net worth that has remained significantly eroded over the last three fiscal years (2024-2026). The company currently operates with negligible revenue and is focused on liquidating assets to manage its ₹36 crore debt.
- Net worth as of March 31, 2026, stands at negative ₹27.64 crore.
- Paid-up share capital remains stagnant at ₹8.74 crore (874.02 lacs) for the last three fiscal years.
- Reserves and Surplus (excluding revaluation reserves) are recorded at negative ₹36.38 crore as of March 2026.
- Exemption claimed under Regulation 15(2) of SEBI (LODR) Regulations, 2015, due to small capital base and negative net worth.
Eurotex Industries has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ended June 30, 2026. The filing confirms that the Registrar and Transfer Agent, Datamatics Business Solutions, processed all dematerialization requests within the mandated 15-day window. This is a standard administrative procedure and does not impact the company's financial position. The company currently faces severe financial stress with TTM revenue at Rs 0 Cr and a negative net worth of Rs 27 Cr.
- Compliance certificate issued for the quarter ended June 30, 2026
- Dematerialization requests processed and certificates cancelled within 15 days of receipt
- Registrar and Transfer Agent confirmed as Datamatics Business Solutions Limited
- Company reports a negative net worth of Rs 27 Cr and TTM revenue of Rs 0 Cr
Financial Performance
Revenue Growth by Segment
Total income for H1 FY2025 grew by 57.27% YoY to INR 6.62 Cr from INR 4.21 Cr. The Textiles (Yarn) segment revenue increased by 30.82% to INR 8.49 Cr in H1 FY2025 compared to INR 6.49 Cr in H1 FY2024, while the Real Estate Development segment reported a negative revenue adjustment of INR 1.87 Cr.
Geographic Revenue Split
Not specifically disclosed in available documents, though the company operates as Eurotex Industries and Exports Limited, implying a mix of domestic and international yarn sales.
Profitability Margins
Profitability remains deeply negative but showed relative improvement; Net Profit Margin was -190.27% in FY 2024-25 compared to -1038.07% in FY 2023-24. Operating Profit Margin improved from -1047.04% to -726.22% YoY.
EBITDA Margin
The company reported a total segment loss before interest and tax of INR 2.28 Cr for H1 FY2025, an improvement from a loss of INR 2.72 Cr in H1 FY2024, representing a 16.18% reduction in operating losses.
Capital Expenditure
The company is currently in a divestment phase rather than expansion; it generated INR 5.35 Cr from the sale of property, plant, and equipment in H1 FY2025, compared to INR 0.67 Cr in H1 FY2024.
Credit Rating & Borrowing
The company's credit rating was downgraded to [ICRA]D (Default) in February 2019 due to delays in debt servicing and was subsequently withdrawn in August 2020. Current financial borrowings stand at INR 30.71 Cr as of September 2025.
Operational Drivers
Raw Materials
Cotton represents the primary raw material for the yarn segment, typically accounting for 60-70% of total manufacturing costs in the spinning industry.
Import Sources
Not specifically disclosed, but typically sourced from major cotton-producing states like Maharashtra and Gujarat.
Capacity Expansion
No expansion planned; the company is liquidating assets, including the sale of plant, machinery, and freehold land at Kolhapur to manage liquidity and debt.
Raw Material Costs
Not explicitly broken out as a percentage of revenue in the H1 FY2025 results, but high production costs are cited as a primary reason for persistent operating losses.
Manufacturing Efficiency
Manufacturing efficiency is currently low, evidenced by an Inventory Turnover Ratio of only 0.63 in FY 2024-25, indicating slow-moving stock and underutilized capacity.
Strategic Growth
Expected Growth Rate
57%
Growth Strategy
Growth is being pursued through a turnaround strategy focusing on the stabilization of the yarn segment and the monetization of non-core assets (land and machinery in Kolhapur) to settle liabilities and improve the debt-to-equity ratio, which stood at -1.60 in FY 2024-25.
Products & Services
Cotton Yarn and Real Estate Development services.
Brand Portfolio
EUROTEX
New Products/Services
No new product launches disclosed; focus is on existing yarn operations and asset liquidation.
Market Expansion
No market expansion plans disclosed; the company is currently focused on debt reduction and internal restructuring.
Market Share & Ranking
Not disclosed; the company is a small-cap player with a paid-up capital of INR 8.74 Cr.
External Factors
Industry Trends
The Indian textile industry is facing high production costs and cyclical demand shifts. Eurotex is positioned poorly for future growth due to its negative net worth of INR 29.47 Cr and 'Default' credit history, necessitating a focus on survival through asset sales.
Competitive Landscape
Competes with numerous organized and unorganized spinning mills in India; faces pressure from larger players with better economies of scale and lower debt costs.
Competitive Moat
The company lacks a significant moat, as yarn is a commodity product. Its competitive position is weakened by a current ratio of 0.04, indicating severe difficulty in meeting short-term obligations.
Macro Economic Sensitivity
Highly sensitive to global textile demand and domestic agricultural policies affecting cotton availability and pricing.
Consumer Behavior
Shift toward synthetic blends and sustainable fibers in the global fashion industry affects long-term demand for pure cotton yarn.
Geopolitical Risks
Trade barriers or shifts in global textile supply chains (e.g., shifts to Vietnam or Bangladesh) impact the demand for Indian cotton yarn.
Regulatory & Governance
Industry Regulations
Operations are subject to textile industry standards and environmental norms; the company is exempt from certain corporate governance regulations (Regulation 17 to 27 of SEBI LODR) because its paid-up capital is below INR 10 Cr and net worth is negative.
Environmental Compliance
Not specifically disclosed, though textile units must comply with state pollution control board norms for water discharge and emissions.
Taxation Policy Impact
The company reported a tax expense of zero for H1 FY2025 due to ongoing losses.
Legal Contingencies
The company has disclosed pending litigations in Note 31.1 of its financial statements, though the specific INR value of these contingencies is not provided in the summary documents.
Risk Analysis
Key Uncertainties
The primary uncertainty is the 'Going Concern' status given the negative net worth of INR 29.47 Cr and a current ratio of 0.04, which indicates a 96% shortfall in current assets relative to current liabilities.
Geographic Concentration Risk
Operations are concentrated in Maharashtra, specifically with significant assets located in Kolhapur and the registered office in Mumbai.
Third Party Dependencies
High dependency on cotton suppliers and the banking sector for working capital, which has been restricted due to the default rating.
Technology Obsolescence Risk
Risk of aging machinery; the company is currently selling off plant and equipment, which may lead to a technological gap compared to modernized competitors.
Credit & Counterparty Risk
Trade receivables stood at INR 2.52 Cr as of September 2025; the quality is critical given the company's lack of liquidity.
